Core Viewpoint - King Leaf International Group has successfully listed on the Hong Kong Stock Exchange's Growth Enterprise Market, marking a significant event as it is the first company to do so this year after nearly a year without new listings in this segment [1][2]. Group 1: Company Overview - King Leaf International Group has been operating in the electromechanical engineering sector in Hong Kong for 20 years, focusing on HVAC systems and providing electrical installation and plumbing services [3]. - The company has established long-term relationships with major property management firms in Hong Kong, serving areas including Hong Kong Island, Kowloon, and the New Territories [3]. Group 2: Financial Performance - For the fiscal years 2023/2024 and 2024/2025, King Leaf International Group reported revenues of HKD 123 million and HKD 155 million, respectively, with net profits of HKD 10.37 million and HKD 14.07 million [4]. - The company undertook over 1,000 projects in the mentioned fiscal years, with most projects contributing less than HKD 500,000 in revenue, leading to higher gross margins due to lower subcontracting costs [3][4]. Group 3: IPO Details - The company priced its shares at HKD 0.50 each, issuing 100 million shares and raising a total of HKD 50 million, with a net amount of HKD 31.3 million after deducting listing expenses [1]. - King Leaf International Group achieved a remarkable oversubscription rate of 11,464.7 times, making it the latest "super subscription king" in Hong Kong's stock market history [4][5]. Group 4: Market Context - The recent surge in demand for new shares in the Hong Kong market, coupled with the limited issuance scale of King Leaf International Group, has led to a concentration of subscription demand, significantly increasing its oversubscription rate [5][6]. - The company’s listing is seen as a representation of local enterprises in Hong Kong, amidst a trend of mainland companies entering the market [4][5].

Group 1 - The company, Daxing Kegong, has successfully completed its IPO subscription with a total subscription amount of approximately HKD 262.19 billion, significantly exceeding the initial fundraising target of HKD 39.2 million, resulting in an oversubscription of over 6,688 times, making it the "super subscription king" in new stock history [1] - Daxing Kegong plans to issue 7.92 million H-shares, with 10% allocated for public offering, at a price of HKD 49.5 per share, aiming to raise approximately HKD 390 million [1] - The company has secured cornerstone investors including Allianz Global Investors Asia Pacific, Greater Bay Area Fund Management, and others, collectively subscribing for approximately USD 12.76 million [1] Group 2 - Daxing Kegong is the largest folding bicycle manufacturer in mainland China, holding the top position in both retail volume and retail value in the folding bicycle market, with a market share of 26.3% by volume and 36.5% by value for 2024 [2] - The company holds the most patents in the Chinese folding bicycle industry, with 113 valid patents in mainland China and 22 valid patents in the US, Europe, and Japan as of April 30, 2025 [2] - Daxing Kegong has established a comprehensive and efficient sales and distribution network, collaborating with 38 distributors across 30 provincial-level administrative regions in China, covering 680 retail points, and has expanded its online presence on major e-commerce and social media platforms [2]

Group 1 - The company, Daxing Kegong, has successfully completed its IPO subscription with a total subscription amount of approximately HKD 262.19 billion, achieving an oversubscription rate of over 6,688 times, making it the "super subscription king" in new stock history [1] - The company plans to issue 7.92 million H-shares at a price of HKD 49.5 per share, aiming to raise approximately HKD 390 million [1] - The company has introduced cornerstone investors including Allianz Global Investors Asia Pacific and others, collectively subscribing approximately USD 12.76 million [1] Group 2 - Daxing Kegong is the largest folding bicycle manufacturer in mainland China, holding a market share of 26.3% in retail volume and 36.5% in retail value as of 2024 [2] - The company holds the most patents in the folding bicycle industry in China, with 113 valid patents in mainland China and 22 valid patents in the US, Europe, and Japan as of April 30, 2025 [2] - The company has established a comprehensive sales and distribution network, collaborating with 38 distributors across 30 provincial administrative regions in China, covering 680 retail points and expanding into major e-commerce and social media platforms [2]

Group 1 - Double登股份 (06960) and Jiaxin International Resources (03858) are currently in the process of public offering [1] - As of August 20, brokers including Futu, Huatai, and Xincheng have collectively lent HKD 165.4042 billion for Double登股份, resulting in an oversubscription of over 1944 times [1][2] - For Jiaxin International Resources, brokers have lent a total of HKD 15.5319 billion, leading to an oversubscription of over 11.9 times [1][2] Group 2 - The total amount raised for Double登股份 is HKD 0.85 billion, while Jiaxin International Resources has raised HKD 1.20 billion [2] - The breakdown of the lending amounts for Double登股份 includes HKD 753.90 million from Futu and HKD 455.00 million from Huatai, among others [2] - For Jiaxin International Resources, the largest contributions come from Futu with HKD 6.77 million and Huatai with HKD 1.07 million [2]